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2018-03-13 07:32:31

COUP

Coupa Software

$49.17

0.78 (1.61%)

07:32

03/13/18

03/13

07:32

03/13/18

07:32

Coupa Software price target raised to $53 from $49 at RBC Capital

RBC Capital analyst Ross MacMillan raised his price target on Coupa Software to $53 after the company's Q4 earnings showed a 51% increase in billings growth along with operating leverage. The analyst keeps his Outperform rating, saying the company has "multiple drivers for growth, including international, mid-market, product cross-sell and community insights" while its "strong fundamentals" justify the premium valuation.

Loop Capital analyst Joseph Vafi raised his price target on Coupa Software to $48 after the company's "good financial performance" in Q4 driven by the "solid uptake" from its software in the procurement management market. Vafi notes that Q4 subscription revenue accelerated 9% while billings for 2017 overall rose 40%, giving the company momentum into 2018. The analyst keeps his Hold rating on Coupa Software, adding that while the progress in its operating model is encouraging, the valuation on the stock is in line with the peer group.

As previously reported, JMP Securities analyst Patrick Walravens downgraded Coupa Software to Market Perform from Outperform, stating that he believes the company is "firing on all cylinders" but it may be time to "take a breather" with the risk-reward balanced and the stock fairly valued following its 54% advance year-to-date.